Ag Plus meets producers' grain marketing needs by providing access to end user markets, competitive bids and pricing programs. Our experienced team provides competitive prices, transportation needs, drying and storage service, and we take pride in unloading grain quickly during the high-volume harvest season so your operation doesn't experience bottlenecks. If you have any questions feel free to contact Dave or Laura for your grain marketing needs.
Friday, September 21st, 2018
Check with your location for extended hours for Saturday or Sunday.
Markets were mixed today with corn higher and wheat and beans both lower on the day. Corn continues to find some support even after Informa released 2019 planting estimate over 93 million acres. USDA announced a sale of 121,700 MT of corn to unknown for 18/19 and 100,000 MT of bean meal to unknown for ext year also. President Trump announced today it did not look like we would get a deal done for NAFTA with Canada before the end of the month but we did have an agreement with Mexico. Brazil and Parana have both been dry aiding planting there. Russia is 48% of last year on wheat exports for the first 11 weeks of the market year. Would have to believe this pace will have to stop with the smaller crop there, will they come to the U.S.? Markets did get some support from heavy rains in the upper midwest delaying some harvest. There is talk the northern 1/3 of the corn belt could be looking at possible frost from 9/27 to 10/2. Parts of Canada received frost last night. Damage results continue to come in from the southeast part of the U.S. The current estimate is for 3.4 million chickens and 5500 hogs have died due to the hurricane and rains. There have been 13 lagoons break the sides or overflow out of the 3000 plus in North Carolina. Funds sold 89,700 contracts of corn in the past week leaving them short 176,200 contracts. They have also sold 4500 contracts of bean, now short 127,900 contracts. Funds sold 13,300 contracts of wheat in the past week, they are now short 37,500 contracts. The Dow set another new record today, currently the Dow futures are up 99, Nasdaq is up 9, and S & P is up 9. The dollar rebounded from yesterday to close up 289 points. Gold is down $9.30, silver is up 18 points. Crude oil traded both sides and closed up 50 cents at $70.82.
Support on December corn is at $3.50 and $3.40-1/2 and resistance was $3.63-1/2 and $3.66-1/2. Support on November beans is at $8.00 and $7.82 and resistance is at $8.56-1/2 and $8.70-1/2. Support on December wheat is at $4.90 and $4.75 and resistance is at $5.32-3/4 and $5.41.